The Matrix star confirmed in March that another installment of the comedy franchise is in the works, revealing he and co-star Alex Winter have a "good script" and were just waiting for a start date.

Galaxy Quest director Parisot has now been put in charge of the third Bill & Ted film, according to showbiz blog Vulture.com, but production is unlikely to begin for some time yet as he is scheduled to start shooting Red 2, a sequel to the 2010 Bruce Willis and Helen Mirren action comedy.

The original Bill & Ted's Excellent Adventure came out in 1989 and a follow-up, titled Bill & Ted's Bogus Journey, was released in 1991. The franchise also enjoyed success on TV thanks to an animated series.